Ryan Company is considering whether to invest in a piece of equipment that requires an investment of $400,000 today. The project will provide net before-tax operating cash inflows of $120,000 at the end of each year for eight years, and it will have a salvage value of $0 at the end of eight years. Ryan Company uses straight-line depreciation for income tax purposes. The income tax rate is 40% and the discount rate is 13%. Income taxes are paid at the end of the year. Calculate the NET PRESENT VALUE of the piece of equipment.Don't forget income taxes!!!

negative $54,489

positive $126,390

positive $89,474

negative $12,941

positive $79,877

positive $41,486

negative $64,086

positive $175,852